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Avendus , India ’s top investment funds banking company for venture tidy sum , is attend to raise about $ 300 million for its individual fairness unit of measurement , according to three source familiar with the matter .
The Mumbai - ground firm , backed by U.S. individual equity giant KKR , has established itself as the top financial advisor in India , working with popular growth - phase startup includingZepto , Lenskart , Xpressbees , CaratLane and Atomberg on their funding round last twelvemonth .
With its third private equity investment firm , Avendus be after to publish larger hitch more frequently , one of the source said . The business firm raised its 2nd investment company , amounting to around $ 185 million , in 2021 . Its initiatory store was $ 50 million in size .
The sources requested anonymity to discuss private subject . An Avendus voice declined to comment .
Avendusfirst gained bump as India ’s startup ecosystem first started to take soma , take advantage on the fact that many of its well - know competition — include Goldman Sachs , Morgan Stanley and JP Morgan — initially pay less attention to the Indian market . That was partly due to great deal size of it in the early day : Typically they were less than $ 30 million , not substantial enough to generate important fees , make it less attractive for many standard names to absorb .
But as the Indian inauguration ecosystem thrive in the past decade , becoming the third - largest in the world , it has attracted world-wide giants , including SoftBank , Tiger Global and General Atlantic , as well as sovereign wealth cash in hand like Temasek , GIC , ADIA , Khazanah , PIB and Mubadala , which have collectively pullulate ten-spot of 1000000000000 of dollars into startup humble and large in India .
Avendus employs more than 150 bankers and was the top fiscal consultant in India last year . It provided services in over 30 deal , including unification and skill transactions , accordingto Venture Intelligence , a private grocery store insight weapons platform .
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In the past decennium , similar to financial advisor in other regions , Avendus has radiate its offering , venturing into wealth management , credit rating funding and individual fairness . Last twelvemonth , the firm also lucubrate its financial advisory service to the southeasterly Asiatic region .
